RoboMiner Pro Robot Review - LIVE ACCOUNT

[pipdetector]

It looks that we are up for a big drawdown taking into account that AUD is steadily going north...

[only20gp]

lets hope is doesnt go up by too much. i think its now bound south. if it does climb, id say only 3 or 4 ranges. lets hope im right.

[shaun_ru_th]

dont hope!!look @ 4h chart there s a clear down trend .currently 1.2410 area is a strong resistance area for aud/nzd. If u looking for more strong resistance u ll get better sucess with robominer.rather than blind trading.

[rsmereka]

What's the consensus here on using the new Robominer stealth mode?

Do you think it will help the slippage at closing. I have noticed a few trades that are closing at well less than 40 pips. Is this just due to a fast moving market at trade close or is it tp hunting on the part of the broker ?

I just upgraded my demo account to the new Robominer version but I left stealth mode off. I plan to upgrade my live account at the end of this week if everything goes ok.

Rick

[rsmereka]

I went hunting for the oldest Robominer/GT trading statement that I could find and I found this one which dates from January 8th 2009. There are some very interesting observations:

1. I think this is a demo account.

2. The opening balance was 10K and both pairs were started at one mini This is way over leveraged. The recommended lot size for a 10K start on both pairs (using a balance factor of 3500) is 0.02.

3. Despite the fact that, even now, the account is still over leveraged, the account is doing well. $17,608.33 balance, s/b lot size 0.05

4. There are five open trades, all AUDNZD from Jan 12th and Jan 13 whose rollover fees/swap now exceed any potential profit.

5. $7,608.33 in profit as I write this

Rick

[pipdetector]

I am using GT with RM settings and frankly I do not see a way to get the 6% monthly that is mentioned around, unless some overleveraging is used. That said, GT is still providing steady 3-4% monthly.

As to rollover , I think that it will always will be the problem, because RM is usually positioning itself against the rate differential. It is usually countering the trend , and the trend to some extent is determined by differences between central bank rates.

As to point 4. I do not agree. You can "orphan" the trades before the price returns to them and manually set the TP so that they show profit. BTW, doesn't RM correct TP automatically?

[PipCop]

As with any robot, your returns depend on your risk aversion. If you want to be safe, you won't get 6%. If you don't mind risking a little more you can get 6%, but it's just that - risk.

There is a way to make the newer version of RM close in profit:

If AllowInternalClose is true and StealthMode is true, then it can take the swap fees into account even if AllowForSpread is true. Remember that taking swap fees into account means that it will attempt to hold old trades open until they are at least 1 cent positive profit, in a situation where the negative swap is large enough to totally overcome the trade profit.

[dennerle]

Originally Posted by PipCop

As with any robot, your returns depend on your risk aversion. If you want to be safe, you won't get 6%. If you don't mind risking a little more you can get 6%, but it's just that - risk.

There is a way to make the newer version of RM close in profit:

If AllowInternalClose is true and StealthMode is true, then it can take the swap fees into account even if AllowForSpread is true. Remember that taking swap fees into account means that it will attempt to hold old trades open until they are at least 1 cent positive profit, in a situation where the negative swap is large enough to totally overcome the trade profit.

any idea if stealthmode = false and allowforinternalclose = true, does it alter the TP to make sure it close in profit?

[rsmereka]

Both very good points Pipcop and pipdetector,

I have some reservations about using stealthmode because the TP is no long present on the brokers' server. If something happens to the trading computer or the Internet, the TP is missed.

In any case, I think I will try Pipcop's recipe on my demo account for a while and see how it goes.

Rick

[trendcat]

how much has pipcop been trading since jan 1
is .02 = to 2/100th of a lot or 2 mini lots,im not clear on the settings.
thanks